Learn the Pros and Cons of buying or building a new construction Home. Sean and Blanca with RE/MAX have lots of experience with various builders in the Maple Grove, Plymouth, and the Twin Cities.
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If you’re buying pre-built new construction, chances are good the layout will lean to modern, with wide-open floor plans. kitchens flow into family rooms so you can cook and oversee homework or watch the game. Rooms in new construction homes – especially bedrooms and bathrooms – tend to be larger and brighter, with lots of natural light.
Walls, floors and ceilings tend to be better insulated. Older homes can be drafty, resulting in higher utility bills. New homes also mean new appliances, which require less energy.
New homes are typically more energy efficient than older houses, having been built with newer building materials, better insulation, and state-of-the-art tech. Consequently, energy costs should be lower than with a resale property. Older homes tend to be less energy efficient, and that can lead to higher monthly expenditures for the new owners.
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With new construction comes new appliances, new equipment and their warranties. Some builders also have extended warranties on their newly built homes, which can give a buyer peace of mind, especially first-time home buyers. CONS. Higher Price. Typically, all these modern layouts and conveniences come with a higher price. However, if you compare a new construction with an older home in a city, you may find that the cost per square foot is less for a new home.
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New construction generally has low margins, so there is little room to negotiate. Yet the average home owner may be willing to make concessions if he or she is really motivated to move. Find out what homes are available for sale in certain zip code areas by clicking here.
It used to be that new homes cost more than older homes, but that’s not necessarily true across the board anymore. As land costs increase, the size of new home lots has shrunk. Especially in California, where one can practically crawl through a bedroom window and into the window of the home next door. Homes are that close in proximity.